RBC Capital analyst, Mike Abramsky, told clients in a note that, after a meeting with two of Apple’s top executives, RBC Capital Markets, the company’s major requirement for launching a lower-end iPhone is whether the handset would offer an “innovative, category-killer experience.”
Abramsky recently has a meeting with Apple Chief Operating Officer Tim Cook and Chief Financial Officer Peter Oppenheimer. “Apple’s primary criterion for launching a lower-end iPhone is an innovative, category-killer experience,” he says.
Abramsky also noted that iCloud is probable to be ready for “significant scale,” with Apple having learned its lesson from the MobileMe service. RBC maintains a price target of $500 for shares of Apple stock, reiterating its Outperform rating for the company.
